Browsing: NZD/USD Forecast

NZDUSD Although NZDUSD has been behaving oddly recently, I believe there is a great setup forming here. Last week, price action traders probably were misled by a Daily pin bar. I believe that what we are looking now might be a possible new NZDUSD interim bottom. The price did not go lower and has been on the rise since then. The daily candle from Friday is a long-legged doji, which usually shows indecision. Today’s candle is most likely going to be a bullish candle. This hypothesis should be confirmed by a daily close. My approach: I will be looking for…

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The Reserve Bank of New Zealand managed to hit the kiwi when it was down. The recent improvement in the employment situation created expectations for a more hawkish central bank, but the RBNZ remained neutral and especially cautious. The policy is expected to remain accommodative for a considerable period of time. They also have specific projections about the interest rate. It carries expectations for remaining at 1.8% all the way to September 2018. The interest rate is predicted to rise to 2% only in September 2020. Perhaps the biggest disappointment comes from the dismissal of the recent developments. They see them…

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The New Zealand dollar was trading around the 0.70 level once again. Five events await us this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Milk prices continue rising as seen in the latest GDT Price Index: 3.1%. The CPI beat expectations by rising 1% but there were doubts about the details, limiting the kiwi’s rise. In the US, disillusion from Donald Trump weighed on the greenback but not enough to really move NZD/USD. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Visitor Arrivals: Tuesday, 22:45. Tourism is New Zealand’s second sector after dairy exports.…

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The New Zealand dollar hugged the 0.70 level once again. Will it choose a direction after Easter? Quarterly inflation figures stand out. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The Business NZ Manufacturing Index advanced to 57.8 points, but the FPI slipped. All in all, data from New Zealand was quite stable. NZD/USD rose higher after US President Donald Trump talked down the dollar. However, the greenback recovered, also buoyed by higher consumer confidence. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: GDT Price Index: Tuesday, during the European afternoon. The past two milk…

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The New Zealand dollar struggled to gain ground as commodity currencies suffered in general. Two events are scheduled for the last week of March. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Milk prices advanced in the second auction in a row, rising by 1.6%, but this is a slow recovery after the big falls seen beforehand. The NZIER Business Confidence dropped to 17 points and also failed to help the kiwi. In the US, data was quite mixed. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Business NZ Manufacturing Index: Wednesday, 22:30. This PMI-like indicator…

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The New Zealand dollar had a mixed week. Three events are scheduled for the last week of March. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Building consents leaped by 14%, a jump that is extreme even for this volatile indicator. However, the ANZ Business Confidence slipped to 11.3 points. The US dollar struggled after Trump’s health-care failure and as the Federal Reserve remained dovish. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: NZIER Business Confidence: Monday, 22:00. This survey of 2500 businesses has shown another advance in confidence among kiwi businessmen, with a…

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The New Zealand dollar had a mixed week. Two events are scheduled for the last week of March. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The RBNZ said its word and tried to talk down the kiwi dollar. However, Wheeler and his team do not seem too worried about the weak growth rate. In the US, Trump’s healthcare law woes hurt the US dollar. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Building Consents: Thursday, 21:45. This indicator provides an insight about the housing sector in New Zealand despite being quite volatile. After…

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The New Zealand dollar had a positive week, despite some worrying signs on the domestic front. We now get the word from the RBNZ. Will they remain dovish? Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The New Zealand economy grew by only 0.4% q/q in Q4 2016. This was short of 0.7% predicted and the report included a downgrade for Q3 to 0.8%. The report stalled the rally in NZD/USD that was driven by the Fed’s dovish hike (see the 5 dollar downers) and the pair struggled to hold onto 0.70. NZD/USD daily graph with support and resistance lines…

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The New Zealand dollar made more moves to the upside, but this reversed as the Federal Reserve became hawkish. What’s next? The milk auction is the next big thing. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. New Zealand’s trade balance deficit widened to 285 million NZD, worse than expected. The publication took its toll on the kiwi, but the currency eventually recovered, also thanks to an upbeat measure of commodity prices, up 2% as well as better terms of trade, a rise of 5.7%. The US dollar enjoyed optimism about a March rate hike but suffered from the…

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